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2013 (12) TMI 371 - HC - Income TaxGift from stranger - Held that:- The Assessing Officer and the CIT (A) were justified in holding that the gift in question was bogus and the Tribunal committed patent error in accepting the gift as genuine - The donor had no relationship with the assessee - He had no occasion to give the gift - He was not produced - His financial capacity was not established - His bank statement was not produced - The Tribunal failed to appreciate these facts - It committed patent error of law in holding that the assessee discharged onus on him to prove the genuineness of the gift - NRI gift could not be accepted as genuine unless the assessee was able to prove natural love and affection and financial capacity of the donor - The assessee was also required to substantiate that the donor had the means and the gift was genuine which he had failed to establish - Even when the donor had the means to make the gifts, there being neither any relationship nor there being any circumstance to show natural love and affection of the donor for the donee nor there being any occasion to make such gifts to the assessee and the authority of jurisdictional High Court being against the assessee - Decided against assessee.
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